A live-action version starring Gerard Butler ("Andrew Lloyd Webber's The Phantom of the Opera"), and being produced by a group of Canadian, Icelandic and British filmmakers, is already in post-production.

Now comes word that Sony Pictures Entertainment and producer Steve Bing have agreed to pay more than $2 million for a "Beowulf" script by Richard Avary ("Pulp Fiction") and Neil Gaiman ("Princess Mononoke") -- with plans calling for Robert Zemeckis to direct, using the motion-capture technology he used for "The Polar Express."

Sony insiders told Variety the preliminary budget on the film is $70 million, but that number is likely to grow.